Why YouTube is essential in a recession
First published on LinkedIn
By Stuart Stubbs, Founder, Navigate Video
Whether we are in a recession or not, it is evident that the cost-of-living crisis is having a monumental effect on people’s spending habits.
Although many have less disposable income, for others it is their decreasing confidence in the economy that causes a more cautious approach to spending. This consumer caution leads to an important change in consumer behaviour.
They research more. Spontaneous purchases decrease as consumers look for value for money and product longevity.
How do consumers research?
We are all accustomed to Google’s Messy Middle - the space between awareness and purchase, where shoppers move fluidly between two mental modes: exploration and evaluation, as they learn more about their options. This space is messy – hence the name! People research, take note of influencers, talk to friends, go on social networks. This space has an infinite timeline before consumers have the trigger to buy.
We believe that in a recession this middle takes an even more prominent position in the purchasing journey. Our experience on YouTube has shown this to be true in two ways - consumers are watching more product review videos, and for longer. AND…there are more consumers turning to YouTube to learn more about the products they want to buy.
How can brands own this research journey?
If we know that consumers are going to research for a product it is only prudent that a brand is fully capitalising on this consumer journey. The clue is in the name: reSEARCH. If more people are spending longer in the messy middle researching products, brands need to quite simply, ensure their video content is both optimised for search and that their channel reinforces the consumer trust they’ve already built.
We are all aware of YouTube’s dominance. But Think with Google state that 55% of people search for a product on Google then use YouTube to learn more about it before making a purchase.
55% of 2.3 billion monthly users is a lot!
Website SEO have whole teams looking after it, ensuring a brand’s website ranks highly in search results. Yet vSEO (video SEO), is forgotten about and ignored. We know the stats:
Yet, videos are rarely optimised when uploaded to the platform, hampering their search performance.
Once your content is found in search results brands need to ensure their presence on the site is indicative of their brand’s values. Many brands use YouTube as a dumping ground for content. Old TV adverts, TikTok videos, product tutorials, all dumped on their channel with little regard to a consumers’ purchasing journeys. To a consumer, this is a huge turn off, undermining any brand affiliation they may already have. YouTube is the shop window for brands, and it should emulate the standard of creativity and design that the brand has on all its digital platforms.
Although YouTube Shorts are growing, when it comes to search driven engagement YouTube is still the home of the long form video. This is the perfect platform to deliver in-depth analysis about a product and grow brand engagement. The channel can provide a brand’s back story creating brand affinity and advocacy.
But what about other media, I hear you cry?
We are not here to bash other social channels. These can be a very powerful tool for brands. But we believe that whether your brand is discovered through influencers on TikTok or ads on Instagram, consumers will always go back to YouTube to corroborate what they have seen before they purchase. And what happens when they go to YouTube and find a channel that doesn’t represent what they’ve seen in the ads…well you’ve just lost a customer.
To summarise
Recessions are hard on all brands. Disposable incomes are decreasing, and consumers are feeling the pinch. BUT…purchasing is still happening, but with more thoughtful intent.
By firstly ensuring all your video content is fully optimised for search you can ensure that your content will be successfully delivered in search results. And once you’ve captured your audience, creating a digital shop window on YouTube that shows off your brand and the wonderful products you sell, you are immediately placing yourself in a stronger position to influence customers, and create advocates for your brand.
GET IN TOUCH
If you brand is considering sprucing up your existing YouTube channel or you are contemplating creating one, get in touch to talk to our team.
We can help you navigate this exciting platform: hello@navigatevideo.com